DAX Hits Record High
Frankfurt's DAX 40 edged up by 0.3% to cross 26,600 on Thursday, hitting a record high and extending yesterday's rally. The renewed risk appetite of investors following the US midterm elections continued, with lower oil prices and bond yields providing support. Meanwhile, investors remained focused on the ongoing earnings season. Consumer stocks, banks and autos led sectoral gains, while defense and tech stocks remained under presure. Among individual stock, Rheinmetall plunged more than 16% after lowering its full-year guidance. Deutsche Telekom also lost 1.4% after announcing a €2 billion share buyback that fell short of expectations.
Story updates
Frankfurt's DAX 40 edged up by 0.3% to cross 26,600 on Thursday, hitting a record high and extending yesterday's rally. The renewed risk appetite of investors following the US midterm elections continued, with lower oil prices and bond yields providing support. Meanwhile, investors remained focused on the ongoing earnings season. Consumer stocks, banks and autos led sectoral gains, while defense and tech stocks remained under presure.
Among individual stock, Rheinmetall plunged more than 16% after lowering its full-year guidance. Deutsche Telekom also lost 1.4% after announcing a €2 billion share buyback that fell short of expectations.